Grow your wealth while reducing your tax burden.

The first step in investment:
a low-cost third pillar fund.

Kristi Saare, Teacher and Women's Investors Club founder

Monthly gross salary
Other yearly gross income
Number of underage children
Reasonable monthly contribution to III pillar


Yearly gain from income tax


Get started
Setting up a recurring III pillar payment is free of charge and takes only 5 minutes. In order to do that, you need to log in to your pension account.

Start your third pillar with Tuleva

1Determine your contribution

Use our calculator to compute your maximum contribution affecting taxes. Read more, why invest in the third pillar?

2Select a Tuleva Third Pillar Pension Fund

This is a low-cost index fund which invests in the world’s largest publicly-traded companies. The fund details are here.

3Start saving

Apply It’s easiest to set up your third pillar fund through the bank where you receive your salary. After pressing the above button, you’ll be asked to select a bank, and then given step-by-step instructions to choose a fund and set up contributions. If you’ve already selected a Tuleva Third Pillar Fund, click here to make a contribution.

Frequently asked questions

If I don't have second pillar, can I still open the third pillar?

Yes, if you file your taxes in Estonia, you can open a pension account and contribute to third pillar. You can open the pension account on Tuleva website or in your internet bank – just click on the blue Apply button above.

How does tax benefit on third pillar contributions work?

You can claim tax benefit on third pillar contributions in two ways:

  • When you transfer money to third pillar, the amounts contributed are automatically recorded in your tax return. Once you file your tax return, the government will pay back the income tax on those contributions. You have to make sure, that your contributions won’t exceed 15% of your annual gross income or 6000 euros (whichever is smaller).
  • If you ask your employer to deduct your third pillar contribution directly from your salary, then the employer will not deduct income tax on this contribution. The same maximum limit on 15% of total income or 6000 euros applies.

How are payments made into the third pillar?

As contributions to the third pillar are not automatically deducted from your wages or social tax as in the second pillar, you make these contributions yourself, and they will be credited to the fund as soon as you have made the payment (or set up a standing order). To make a contribution log in here.

How much money should be invested in the third pillar?

You can save any amount in the third pillar, there is no minimum. Here are some important things to keep in mind:

1. The optimal and maximum amount you should save in the third pillar is 15% of your annual gross income, but not more than 6,000 euros. This gives the biggest tax gain. Our calculator will help you make the calculation, and you can find more detailed explanations from investor Kristi Saare here.

The state is giving a great tax incentive to savers in the third pillar – next spring, you will get a tax refund on the amount contributed this year. Before looking for other investments, it is definitely worth making the most of the tax benefits of the third pillar every year. However, there is no point in investing more money in the third pillar than the tax-free limit. Read more about how the tax incentive for pension pillars will benefit you.

2. Don’t worry if you can’t save 15% of your gross income. For the beginning, set aside an amount that does not require you to sacrifice too much today. Start with as little as 25 euros a month and see if you can increase that amount next year.

3. The third pillar is an excellent tool for saving with a longer time horizon. As with any investments, don’t invest the money you need in the near future.

If I do not work in Estonia, will I get an income tax refund on III pillar contributions?

Unfortunately not. If you do not declare your income in Estonia now, then it’s not the best idea to invest through the third pillar. The problem is that you will not get a tax refund on your contributions, but when you withdraw the money, the state still withholds income tax on the entire amount, as if you had initially received a tax refund.

What is the expected return of the Tuleva II Pillar Pension Fund?

We invest passively and keep costs very low. In this way, we achieve a fund performance that goes hand in hand with world markets. Therefore, we can ensure that Tuleva pension funds’ performance will never lag far behind the average of the world securities markets.

Can I make contributions to a family member’s third pillar?

Yes, you can. You can find instructions here.

But keep in mind that income tax is calculated for the pension account holder.

What are the restrictions for withdrawals? When and how can I use the funds?

You can withdraw your funds from the 3rd pillar whenever you like. The withdrawals are taxed as follows:

  • before you turn 60 years old: 20%
  • after your turn 60 years old: 10%
  • when you are over 60 and draw money down as pension payments: 0%

More detailed info.

What is the difference between being a client of Tuleva pension funds and being a member of Tuleva?

If you choose Tuleva’s pension funds you will become Tuleva’s client. If you also become a member of Tuleva, you will become a co-owner of Tuleva. Tuleva is a commercial association, which is owned by Tuleva members. We started Tuleva Fondid AS, which manages Tuleva pension funds. All Estonian people can become clients of Tuleva pension funds, you do not have to be a member to do so.

To become a client of Tuleva’s pension funds, you do not have to pay anything – you will instead instantly start to save money due to low management fees. It only takes 5 minutes to switch funds in your internet bank.

To become a member of Tuleva, you have to pay a one time membership fee (100 euros). Every member has paid a membership fee – this is every owner’s contribution to help develop our jointly owned association. The membership fee is one time only – there are no additional fees later on.

If I have already transferred my pension to Tuleva pension funds, should I also become a member of Tuleva?

You do not have to be a member of Tuleva to invest in Tuleva pension funds, but as a member you gain maximum benefit from Tuleva. As a member you are not only the client of your own pension fund, but also a co-owner.

We, members of Tuleva:

  • Earn a membership bonus every year from the fund management fee, which earns us extra money for our retirement
  • Help to change Estonian laws and regulations so that they benefit pension savers, not only banks and insurance companies
  • Decide over future developments in Tuleva: every member has one vote

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